The privacy-focused L2 is aiming to make token launches fairer.
Aztec Network, a privacy-focused Layer 2 network built on Ethereum with a total value locked (TVL) of over $8 million, announced on Thursday that it would conduct its token sale using Uniswap Labs’ new Continuous Clearing Auction (CCA) system.
CCA, a set of smart contracts developed with Aztec as a core contributor, is designed to make token launches more transparent and accessible. Registration opens Thursday at 10 a.m. EST, with public bidding running from Dec. 2 to Dec. 6, 2025.
The auction begins at a fully diluted valuation (FDV) of $350 million, representing a 75% discount from Aztec Labs’ last equity financings, according to a press release viewed by The Defiant. The teams added that participation limits are set per user to prevent larger holders from dominating the sale.
Aztec is the first project to use the CCA, which allows anyone to bid in real time through on-chain auctions, the teams said. This comes as privacy continues to take the spotlight in decentralized finance (DeFi), following events like the Balancer hack and the growing popularity of projects such as Zcash.
More users and regulators are raising concerns about how personal data is handled, especially in token launches, with many calling for systems that protect user information while keeping sales transparent and fair.
“For years, token launches have favored insiders at the expense of the very communities that drive innovation,” Joe Andrews, co-founder and Head of Product at Aztec Labs, told The Defiant. “The CCA, developed with Uniswap, changes what fair access means in crypto – no special deals, no hidden allocations. Instead, we have non-custodial permissionless DeFi running on top of Ethereum that is transparent, fair, and immutable.”
Aztec’s sale will also use zero-knowledge proofs through ZkPassport’s Noir circuits to allow “compliant sanctions checks without a user risking their passport details being leaked in a data breach,” Andrews added. This differs from typical token sales, which require identity checks that share personal information with third parties or centralized databases.
“This is an exciting preview of what is enabled with programmable privacy on a blockchain,” Andrews said.
Community members can verify their eligibility and mint a soulbound NFT to confirm their right to participate in the auction before it begins.
Aztec officially launched its public testnet on May 1, introducing what the team said is the “first fully programmable privacy solution” for blockchain. It has raised $100 million in a Series B funding round led by a16z.Aztec Network, a privacy-focused Layer 2 network built on Ethereum with a total value locked (TVL) of over $8 million, announced on Thursday that it would conduct its token sale using Uniswap Labs’ new Continuous Clearing Auction (CCA) system.
CCA, a set of smart contracts developed with Aztec as a core contributor, is designed to make token launches more transparent and accessible. Registration opens Thursday at 10 a.m. EST, with public bidding running from Dec. 2 to Dec. 6, 2025.
The auction begins at a fully diluted valuation (FDV) of $350 million, representing a 75% discount from Aztec Labs’ last equity financings, according to a press release viewed by The Defiant. The teams added that participation limits are set per user to prevent larger holders from dominating the sale.
Aztec is the first project to use the CCA, which allows anyone to bid in real time through on-chain auctions, the teams said. This comes as privacy continues to take the spotlight in decentralized finance (DeFi), following events like the Balancer hack and the growing popularity of projects such as Zcash.
More users and regulators are raising concerns about how personal data is handled, especially in token launches, with many calling for systems that protect user information while keeping sales transparent and fair.
“For years, token launches have favored insiders at the expense of the very communities that drive innovation,” Joe Andrews, co-founder and Head of Product at Aztec Labs, told The Defiant. “The CCA, developed with Uniswap, changes what fair access means in crypto – no special deals, no hidden allocations. Instead, we have non-custodial permissionless DeFi running on top of Ethereum that is transparent, fair, and immutable.”
Aztec’s sale will also use zero-knowledge proofs through ZkPassport’s Noir circuits to allow “compliant sanctions checks without a user risking their passport details being leaked in a data breach,” Andrews added. This differs from typical token sales, which require identity checks that share personal information with third parties or centralized databases.
“This is an exciting preview of what is enabled with programmable privacy on a blockchain,” Andrews said.
Community members can verify their eligibility and mint a soulbound NFT to confirm their right to participate in the auction before it begins.
Aztec officially launched its public testnet on May 1, introducing what the team said is the “first fully programmable privacy solution” for blockchain. It has raised $100 million in a Series B funding round led by a16z.